The firm’s annual meeting, held at its corporate campus in Purchase, N.Y., was dominated by questions — and assertions — from individuals about financial regulation, the makeup of Morgan Stanley’s directors and bankers’ pay.

As the audience was about to vote, a chant began, involving 15 to 20 people. It was led by Jason Javier, who described himself as a graduate of New York University.

“When finance is deregulated, the 1 percent wins and the 99 percent loses every time,” the chanters said.

About Morgan Stanley, they added: “Between 2008 and 2010, its top five executives made $130 million, but they still want more, even if it comes at the expense of working Americans.”

Shareholders overwhelmingly approved the executives’ compensation package at the meeting. Mr. Gorman’s total 2011 compensation package was $13 million, down from $15.2 million, according to a company filing.

Asked about the chants, Mr. Gorman said: “It wasn’t very exciting.”

Since the financial crisis, it’s not unusual for protesters make their anti-Wall Street views know at annual meetings. They simply buy some shares in the company, which allows them to attend as shareholders. The protesters had a greater presence at Tuesday’s meeting than at previous ones, Mr. Gorman said afterward.

He responded to the criticisms several times during the meeting. One theme to his answers was that Morgan Stanley plays a role in allowing companies to raise capital so that they can grow and employ more people.

When Morgan Stanley’s board was criticized for not having sufficiently diverse backgrounds, Mr. Gorman pointed out that directors came from different countries, and added that he himself came from a family of 12 children.

Morgan Stanley’s directors sat at the front of the auditorium, seldom turning around to look at the protesters as they asked questions and made speeches. One of them, a woman in a wheelchair, said: “I”ll introduce myself as ‘the future.’ ” She added, “I am usually invisible to most of the people here.”